China’s APT and Tungsten Powder Prices Are Weak in Early October on Quiet Market

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices remain weak adjustment on October 10, 2022 with the impact of low buying appetite of participants. 

Due to risk factors such as energy crisis, rising prices, and US dollar interest rate hikes, which affect the productivity of the back-end manufacturing and the purchasing power of consumers of tungsten products, the market trading is under pressure. Insiders are not optimistic about the market in October, mainly focusing on inflation indicators of major overseas economies as well as the actual implementation of domestic supportive policies.

In the tungsten concentrate market, the October meeting will affect the release of mining and metallurgical resources to a certain extent, superimposed on the impact of the current downturn in the downstream terminal, the overall market liquidity is sluggish, and buyers and sellers are in a deadlock game. Market price hovers around $17,384.6/ton. 

In the APT market, demand pressure leads to weak confidence of raw material manufacturers. In addition, affected by the decline in new guide prices from large companies, smelting factories are not active in manufacturing, and purchasers remain cautious sentiment. At present, APT price is about $299.0/mtu.

In the tungsten powder market, the poor performance of alloy orders at the downstream main consumer side has affected the continued bearish demand for powder. In view of the multiple uncertain pressures of the epidemic, geopolitical conflicts and inflation, consumer confidence continues to be under pressure, and trading enthusiasm is weak. In the short term, tungsten powder price will stabilize at around $40.5/kg. 

In terms of news, the latest research report of CITIC Securities stated that the global manufacturing sector in September fell below 50 for the first time since June 2020. Among them, the PMI index of the United States fell to 50.9, which was lower than market expectations; Asian countries were significantly differentiated, and most of them such as China continue to be prosperous; Europe as a whole continues its downward trend, falling below the 50-point line for three consecutive months, which may indicate that the economy has fallen into recession. In the future, affected by factors such as energy issues, recession expectations, "anchor" interest rate hikes, financial risks, and geopolitics, the global economic growth momentum may continue to decline, and the readings in the fourth quarter may continue to decline.

Prices of tungsten products on October 11, 2022

Picture of tungsten trioxide 

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